Shares of Anil Ambani-led group firms — Reliance Home Finance Ltd, Reliance Power and Reliance Communications — hit their lower circuit limits on Monday as investors continued to desert the counters after markets regulator Sebi barred the industrialist and 24 others from the securities market for five years on charges of diversion of funds from Reliance Home Finance Ltd.
The stock of Reliance Power dropped 4.99 per cent to hit the lower circuit limit of Rs 32.73 on the BSE.
Shares of Reliance Home Finance Ltd tumbled 4.93 per cent to Rs 4.24 — the lowest trading permissible limit for the day.
Reliance Communications dived 4.92 per cent to touch the lower circuit of Rs 2.32.
Reliance Infrastructure also declined 2.90 per cent to Rs 205.55.
Shares of Reliance Infrastructure, Reliance Home Finance and Reliance Power had slumped on Friday also.
Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from serving as a director or Key Managerial Personnel (KMP) in any listed company or Sebi-registered entity for five years.
Besides, a fine ranging Rs 21 crore to Rs 25 crore has been levied on 24 entities. Also, the regulator barred Reliance Home Finance from the securities market for six months and slapped a fine of Rs 6 lakh on it.